Truist Financial Corporation $TFC Shares Acquired by Versor Investments LP

Versor Investments LP raised its holdings in Truist Financial Corporation (NYSE:TFC) by 64.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 25,008 shares of the insurance provider’s stock after purchasing an additional 9,800 shares during the quarter. Versor Investments LP’s holdings in Truist Financial were worth $1,143,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Smith Thornton Advisors LLC raised its position in Truist Financial by 4.1% in the third quarter. Smith Thornton Advisors LLC now owns 5,900 shares of the insurance provider’s stock worth $270,000 after acquiring an additional 231 shares in the last quarter. Gries Financial LLC grew its stake in shares of Truist Financial by 4.4% during the 3rd quarter. Gries Financial LLC now owns 5,507 shares of the insurance provider’s stock worth $252,000 after purchasing an additional 233 shares during the period. TD Waterhouse Canada Inc. increased its holdings in shares of Truist Financial by 6.8% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 3,730 shares of the insurance provider’s stock valued at $170,000 after purchasing an additional 237 shares in the last quarter. Salomon & Ludwin LLC lifted its stake in shares of Truist Financial by 1.1% in the third quarter. Salomon & Ludwin LLC now owns 21,934 shares of the insurance provider’s stock valued at $998,000 after purchasing an additional 239 shares during the period. Finally, CNB Bank boosted its holdings in Truist Financial by 5.5% during the third quarter. CNB Bank now owns 4,596 shares of the insurance provider’s stock worth $210,000 after buying an additional 239 shares in the last quarter. Institutional investors and hedge funds own 71.28% of the company’s stock.

Insider Activity at Truist Financial

In other Truist Financial news, CFO Michael Baron Maguire sold 13,000 shares of the stock in a transaction that occurred on Monday, January 26th. The shares were sold at an average price of $50.13, for a total transaction of $651,690.00. Following the transaction, the chief financial officer owned 74,323 shares of the company’s stock, valued at $3,725,811.99. This trade represents a 14.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Cynthia B. Powell sold 3,500 shares of the stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $52.49, for a total value of $183,715.00. Following the completion of the transaction, the chief accounting officer directly owned 667 shares in the company, valued at $35,010.83. This trade represents a 83.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 21,660 shares of company stock worth $1,075,087. 0.14% of the stock is currently owned by insiders.

Truist Financial Stock Performance

Truist Financial stock opened at $54.82 on Tuesday. Truist Financial Corporation has a fifty-two week low of $33.56 and a fifty-two week high of $56.19. The company has a market capitalization of $70.13 billion, a price-to-earnings ratio of 14.39, a PEG ratio of 0.94 and a beta of 0.89. The stock has a fifty day moving average of $50.38 and a two-hundred day moving average of $46.79. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.86 and a current ratio of 0.87.

Truist Financial (NYSE:TFC) last posted its quarterly earnings data on Wednesday, January 21st. The insurance provider reported $1.00 EPS for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.09). Truist Financial had a net margin of 17.09% and a return on equity of 9.03%. The company had revenue of $5.25 billion for the quarter, compared to analyst estimates of $5.32 billion. During the same period in the previous year, the business earned $0.91 EPS. The firm’s revenue was up 3.6% on a year-over-year basis. On average, analysts anticipate that Truist Financial Corporation will post 4 EPS for the current fiscal year.

Truist Financial announced that its board has initiated a stock repurchase program on Tuesday, December 16th that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the insurance provider to reacquire up to 15.7% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

Truist Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Friday, February 13th will be issued a $0.52 dividend. The ex-dividend date is Friday, February 13th. This represents a $2.08 annualized dividend and a yield of 3.8%. Truist Financial’s payout ratio is 54.59%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. TD Cowen increased their target price on shares of Truist Financial from $59.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, January 22nd. Argus raised their price objective on Truist Financial from $54.00 to $58.00 and gave the company a “buy” rating in a research note on Friday, January 23rd. Keefe, Bruyette & Woods lifted their price objective on Truist Financial from $49.00 to $53.00 and gave the stock a “market perform” rating in a report on Wednesday, December 17th. JPMorgan Chase & Co. upped their target price on Truist Financial from $51.50 to $57.00 and gave the company a “neutral” rating in a report on Monday. Finally, Evercore lifted their price target on Truist Financial from $58.00 to $64.00 and gave the stock an “outperform” rating in a research note on Thursday, February 5th. Eight analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Truist Financial presently has an average rating of “Hold” and an average target price of $55.60.

Truist Financial Profile

Truist Financial Corporation is an American bank holding company that provides a broad range of financial services through its primary subsidiary, Truist Bank, and other operating units. The company offers traditional retail banking products and services such as deposit accounts, consumer and residential mortgage lending, and credit and debit card services. Truist also serves commercial clients with middle-market and corporate lending, treasury and payment solutions, and specialty finance products.

Beyond core banking, Truist operates wealth management, asset management, insurance and capital markets businesses.